BrightSpire Capital (BRSP) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

BrightSpire Capital

NYSE•Real Estate•REIT - Mortgage

$3.53-0.13(-0.04%)Pre-market

Market Cap

$425.67M

P/E

22.3x

P/S

1.3x

P/B

0.5x

BrightSpire Capital, Inc. operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Norway. It operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. The company focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of senior mortgage loans, mezzanine loans, preferred equity investments, net leased real estate and other real estate properties, and CRE debt securities. It also engages in money market activities; and invests in private equity funds. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Colony Credit Real Estate, Inc. and changed its name to BrightSpire Capital, Inc. in June 2021. BrightSpire Capital, Inc. was incorporated in 2017 and is based in New York, New York.

How this company scores

WeakMetricSide Score: 54/100

Grade capped at D — Interest coverage below 1× (0.7x) — earnings cannot cover interest. Strongest: Profitability (19/25); weakest: Balance Sheet & Red Flags (2/25).

Profitability19/25

Growth17/25

Balance Sheet & Red Flags2/25

Cash & Earnings Quality16/25

Strengths

Strong marginsRising earningsConsistent free cash flowProfit converts from growth

Grade capped at D

Interest coverage below 1× (0.7x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 22.3x5y range 6.6x – 158.7x

Currently near its 7-quarter median.

P/S · 1.3x5y range 1.3x – 6.4x

Currently below its 20-quarter median.

P/B · 0.5x5y range 0.5x – 0.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 3.5x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $425.67M

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $339.21M
Q. Revenue: $87.36M
TTM EBITDA: $120.56M
TTM Op. Income: $91.68M
Q. Op. Income: $24.80M
TTM Net Income: $19.09M
Q. Net Income: $46.93M
EPS: $0.37
Shares Out.: $122.32M

$339.21M in TTM revenue grew 2.5% YoY, reaching $87.36M last quarter. TTM EBITDA of $120.56M and TTM operating income of $91.68M show growth is flowing through to the bottom line. TTM net income of $19.09M means revenue is converting into profit. Over the past year, TTM revenue is up 3% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 33.1%
Op. Margin: 28.4%
Net Margin: 53.7%

Op. margin of 28.4% is down 6.6% YoY — costs are rising relative to revenue. Net margin at 53.7% Over the past year, operating margin is down 19% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 22.3x
P/S Ratio: 1.3x
P/B Ratio: 0.5x

At 22.3x P/E, the stock trades within typical market levels. P/S of 1.3x and P/B of 0.5x provide additional context. Use the growth and margin sections to judge whether the multiple is justified.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $3.67B
Cash: $63.60M
Long-Term Debt: $2.63B
Book Value: $869.79M
D/E Ratio: 3.0
Debt/EBITDA: 91.2

With $3.67B in assets and $2.63B in long-term debt, D/E is 3.0and book value is $869.79M — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is up 35% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $16.65M
TTM Free Cash Flow: $61.07M
FCF Margin: 18.0%
FCF / Net Income: 3.2

TTM FCF of $61.07M on $16.65M in operating cash flow. The FCF / Net Income ratio of 3.2x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 14% — a weakening trend.